Ferragamo sales grow in early 2021 after FY operating loss
Reuters
Published Mar 09, 2021 12:18PM ET
(Reuters) - Italian luxury goods group Salvatore Ferragamo said on Tuesday retail sales had grown in the first nine weeks of 2021, after posting its first full-year operating loss since listing in Milan 10 years ago because of the pandemic.
Earnings before interests and taxes (EBIT) recorded a 62 million euro loss compared with a 150 million euro profit in 2019 amid plummeting revenues and impairment charges Ferragamo booked on assets such as property and machineries.
Analysts on average had expected a 64 million euros EBIT loss for 2020, according to a Refinitiv consensus forecast.
($1 = 0.8412 euros)
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.